Effective on November 15, 2018, Birge Bargmann, President and co-founder of the company, resigned as President, Chief Executive Officer, Chief Financial Officer, and member of the Board of Directors of Proteo, Inc. The Board of Directors of the company, effective November 15, 2018, appointed Jork von Reden as a director of the Company to fill the vacancy created by the resignation of Birge Bargmann until the next annual stockholders' meeting of the Company and when his qualified successor is elected. Mr. von Reden, who serves as Managing Director of CFI Innovation GmbH Berlin Unternehmensberatung und Beteiligungen. Additionally he serves as Managing Director of Windenergy Trust Sp.zo.o, Szczecin, Poland and Contrust Sp.zo.o, Jelenia Gora, Poland.

Dr. Oliver Wiedow, M.D., a current director of the Company, was appointed as President, Chief Executive Officer, and Chief Financial Officer of the company, effective on November 15, 2018. Dr. Wiedow, who has been a director of the Company since 2000, served as the Company's President, Chief Executive Officer and Chief Financial Officer from January 2004 to June 2004 and has served as a member of the Supervisory Board of Proteo Biotech AG since 2000.